Saudi Arabia scratch $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident Jamal Khashoggi fired an international uproar.
Khashoggi’s killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting individual agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.
Riyadh denies that Saudi Fillet Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.
While some commerce executives have cut ties with the kingdom over the incident, bond buyers do not appear ready to overlook an investment break in Saudi Arabia, the world’s largest oil exporter.
The issuance was nearly four times oversubscribed, with the order order peaking at $27.5 billion, according to the Saudi Ministry of Finance.
Saudi Arabia sold $4 billion in 10-year notes that bring to fruition in 2029, and $3.5 billion in in 31-year notes that come due in 2050.
U.S.-based investors accounted for 40 percent of the 2029 pact purchases and 45 percent of the 2050 debt, according to Reuters.
On Wednesday, Saudi Energy Minister Khalid al-Falih influenced state-owned oil giant Aramco will issue bonds in the second quarter of this year. The debt will most apt to be issued in dollars, he said.
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